Kraft Heinz (KHC) is planning to cut 5,150 jobs, shutter six factories and consolidate its distribution network as Kraft Foods and H.J. Heinz continue to integrate their businesses post-merger.
The company said that it will take a pre-tax $2 billion charge for cutting 13% of its workforce, while the company also plans to spend an additional $1.3 billion on capital expenditures related to the merger.
The company has already spent $995 million on integration efforts since the merger in 2015.
Kraft Heinz shares were up 0.6% in afternoon trading Thursday.